Now on a Daily break below support I will be looking to take one of two trading entries (Aggressive or Conservative) .
The aggressive entry will be simply entering a short on a break below. The passive entry will be going down to the lower time frames such as the 4HR / 2HR and waiting for a retrace and retest of the broken support to signal a more conservative short entry. Now when looking for profit targets you can use the Fibonacci extensions, removing risk (moving stops to break even once the first trade target is hit i.e. the -.27 Extension being Target 1, and 1.3100 being the overall target).
Happy Trading traders =)
And as always use your own personal discretion and risk management when handling the trade.
Feel free to post your own personal ideas on the pair in the comment section, as it always makes it
a more productive environment when everybody throws in their own personal views on a trade =)